Paramount's attempt to acquire Warner Bros. Discovery has been complicated by doubts over the reliability of its financing, despite backing from billionaire Larry Ellison. Warner Bros. Discovery ultimately chose to sell much of its business to Netflix for $83 billion, citing greater certainty and value for shareholders. Concerns centered on Ellison's lack of a personal guarantee and the use of a revocable trust, which could be altered at any time, as well as the absence of named additional partners for the equity portion of the deal. Paramount continues to argue its case to shareholders, insisting its financing is secure, while the outcome may hinge on whether shareholders believe a full sale to Paramount is more valuable than the partial sale to Netflix. Both deals involve significant debt, and the situation remains fluid as Paramount considers raising its offer to sway the board and investors.